The starting point for your property excess depends upon the building sum insured value of your building.
- Building sum insured under $2M → $1,000 excess
- Over $2M → $2,000 excess
- Over $50M → $5,000 excess
However, these excesses may be amended or others imposed for underwriting reasons such as claims history, defects, or other risk factors.
For excesses not imposed by us, owners can adjust the excess they are willing to pay which will impact on the overall premium payable.